Tiffany & Co. said Thursday that its company's board of directors has elected Roger Farah as its chairman, effective October 2. Farah, 64, joined Tiffany's Board in March 2017. He has served in leadership roles at Ralph Lauren Corporation, Venator Group, Inc., R.H. Macy & Co., Inc. and Federated Merchandising Services.
He most recently served leadership roles with Tory Burch. First as co-CEO and director of Tory Burch from September 2014 till March 2017 and then as executive director in advisory role since March when he joined Tiffany’s board
He will replace Michael J. Kowalski who has held multiple leadership roles for a number of years at Tiffany. He has been the board chairman since 2002 and has served on Tiffany’s board since 1995. He will remain on the board after the change.
In addition, Kowalski, who was Tiffany’s CEO from 1999 until his retirement in March 2015, and served as interim CEO since February 2017, will relinquish that title when the company's newly appointed CEO, Alessandro Bogliolo, joins the company in October.
“Roger has significant experience as a leader in the luxury retail industry, and I and my fellow directors value tremendously his expertise and insight which have been apparent during his time on the board,” Kowalski said in a statement. “With the appointment of Alessandro as our new CEO, and under Roger’s leadership on the board, I believe we are well positioned to execute on strategies to drive comparable store sales growth and stronger earnings growth in the longer-term.”
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